Colgate-Palmolive Has Strong Brand-Building And Analytics-Driven Marketing Strategy, Says Analyst
Portfolio Pulse from Shivani Kumaresan
BofA Securities analyst Bryan Spillane has reiterated a Buy rating on Colgate-Palmolive (NYSE:CL) and raised the price target from $90 to $100, citing strong brand-building and analytics-driven marketing strategy. The company reported a +9.8% organic sales growth and an EPS of $0.86, exceeding expectations. The growth was attributed to pricing growth and market share gains in North America and other regions despite hyperinflation challenges. The analyst forecasts a +5.8% organic growth for Q2 and has raised the FY24 organic sales growth estimate from +4.5% to +6.5%.
April 29, 2024 | 5:34 pm
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POSITIVE IMPACT
Colgate-Palmolive's strong Q1 performance and positive analyst outlook, with a raised price target from $90 to $100, reflect confidence in its brand-building and marketing strategy.
The positive analyst rating and increased price target for Colgate-Palmolive are based on its better-than-expected Q1 performance, including organic sales growth and EPS. The company's effective brand-building and analytics-driven marketing strategy, which contributed to market share gains, are key factors. The analyst's forecast for continued growth and the premium P/E multiple suggest a bullish outlook, likely leading to a positive short-term impact on CL's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100